Yorkshire Bank Contractor Mortgages - Help and FAQs
Here at LENDERmonitor we receive regular similar questions from visitors enquiring about whether Yorkshire Bank offer contractor mortgages. We collated some of the more common contractor mortgage questions but if you have any specific questions about Yorkshire Bank and contractor mortgages please complete our enquiry form and we see if we can arrange for an expert to contact you directly.
I have been dealing with a mortgage adviser regarding my remortgage because I have just won a fixed term contract of four years (on a grad scheme). My contract started date last year. I am looking for a three year fixed rate deal. Property value £200,000, I want to borrow £150,000. I purchased the property four years ago for £220,500 and I currently owe 120K to Yorkshire Bank
For three years now I have been a self employed contractor. Mortgage options are being looked at but it's problematic. Is it worth me considering whether it would be possible for my boyfriend to get the mortgage with Yorkshire Bank in his name using our joint deposit and for me to be added at a later date?
How can I make myself more attractive to a lender such as Yorkshire Bank when it comes to trying to get a contractor mortgage. I would like to understand the process and requirements to avoid unwelcome surprises.
As a contractor (IT consultant) do I really need to produce at least six months of both business and personal bank statements as part of the due diligence process for Yorkshire Bank.I am not convinced that my broker is correct.
My research online indicates that mortgage lenders in the main view contractors as high risk applicants; so require 3 years’ accounts to validate mortgage affordability. In my case as a media contractor, this evidence is unlikely to paint an accurate picture of my income potential. Will a contractor-focused mortgage broker persuade lenders such as Yorkshire Bank to offer funds on the more realistic basis of my contracted rate.
The content set out above is in relation to properties in England and Wales.
Find out how to order your redemption statement request from Yorkshire Bank